This study examines whether firms’ financial fraudulent behavior varies when local firms are led by nonlocal CEOs. Building on the social identity theory, we argue that nonlocal CEOs, due to their different location-based social identities, are perceived as outgroup leaders and face intergroup...

This paper investigates the effect of targeted economic sanctions by the United States and the European Union on the performance of intra-industry non-sanctioned firms. Using data of non-sanctioned firms listed on the Zimbabwe stock exchange during the period 2009-2018, our regression results...